pay and the level of cash dividend payout, which indicates that the ultimate controlling shareholders are likely to use … firms' cash dividend policy. The difference might stem from the historical nature of these ultimate controlling shareholders …Departing from the traditional cash flow rights-dividend policy framework, this study investigates whether the level of …

In recent years, stock pledge financing has prevailed in China. Individual shareholders’ stock-pledge announcements … individual controlling shareholders between 2006 and 2020 and investigates, through event study (ES) analysis, the market …

that they are a function of a range of firm specific characteristics that include leverage, cash flow, dividend payout …, liquidity, tangibility, investment opportunities, managerial ownership, and ownership concentration. Results further suggest …

’s optimistic sentiment hold more cash at the same time decrease their capital investment. While this effect is not significant … and financial sectors, Chinese listed firms‘ cashhoding and investment changes as well as managements‘ sentiment before … to be ready enter investment opportunties while managers with negative sentiment and belief about future investments will …

more investment opportunities, and high-tech companies. Overall, our findings are consistent with a constraint explanation …: When external financing is restricted, firms retain more cash to meet future investment needs …

. This paper investigates whether and how dividend-related MSA affects corporate dividend policies. We find listed firms are … checks. We establish a causal relationship between MSA and future dividend payouts, with both instrumental variable approach …, compulsory responses, and regulator attention. Our focused MSA is different from the voting rights of minority shareholders …

Investigating the impact of three types of state ownership on firms' dividend pay-out decisions for the first time …, this study focuses on the differences in dividend pay-out behavior among various state ultimate owners. It has been found … more likely to pay a dividend than the firms controlled by private ultimate owners. Central enterprises are no more likely …